tv [untitled] CSPAN April 29, 2010 7:30pm-7:31pm EDT
bureaucracies created on the rubric of consumer protection, and they have every right to be afraid. this massive new government rocker see is called for in this bill has the authority and power to call you forward and ask you under oath about your personal financial affairs. the fact so many are looking the other way on this serious threat to the civil liberties is coming. if the debate goes on i think america will start focusing on the deep aspect of the bill. mr. president, the architects of the massive new bureaucracy have long argued for a consumer bureau with a right culture they call it. whether that culture focuses on consumer protection and safe and sound banking system or it becomes a way for community organizers and groups like a.c.o.r.n. to grabsch resources is left lying open here.
this new bureaucracy will be funded for over $600 million taken directly from the federal reserve outside of the congressional oversight appropriation process. tap into the central bank that pays for political initiatives are very disturbing and dangerous precedent. they did that in argentina to the other dismay of the global community and to argentina itself. it shows the complete lack of understanding of the importance of an independent central bank. new government programs is not only shortsighted but signals to the rest of the world the failure of this country to act in a fiscally responsible manner. in addition, mr. president, to the new federal consumer protection bureaucracy, this bill envisions a